Photo of Spencer S. Yang, PhD


Selected Expertise

  • Solar project development
  • Renewable energy
  • Economic due diligence
  • Transmission modeling
  • Portfolio analysis
  • Cost-benefit analysis
  • Energy market analysis
  • Market power analysis

Spencer S. Yang, PhD


Spencer Yang provides expert testimony and consulting services in litigation and regulatory proceedings, with a focus on energy industry issues. Dr. Yang also provides economic due diligence and consulting services for renewable energy and infrastructure development projects by major companies and government agencies. He specializes in the analysis of energy markets, renewable energy investments, solar project development, market power, power systems and transmission networks, generation portfolios, and climate change. He has a comprehensive background in science, engineering, statistics, and quantitative analysis.

Dr. Yang has extensive experience applying quantitative analysis to a wide range of business problems. He has served as both a testifying and consulting expert in an array of cases, including the Exelon–Constellation merger, proceedings before federal and state regulatory commissions, applications for market-based rate authority, reliability needs assessments of transmission lines, potential retirement impact of nuclear generation, and civil damages cases. He has recently advised a major private equity fund on potential utility mergers, Korean IPPs on solar PV project development, and he has performed several portfolio analyses quantifying the benefits of adding renewable generation into a conventional fossil fuel generation portfolio mix on behalf of Airtricity, the European Investment Bank (EIB), and the California Energy Commission (CEC).

Dr. Yang received a PhD in High Energy Physics from Columbia University and two additional graduate degrees from Columbia University, a Master of Philosophy in High Energy Physics and a Master of Arts in Physics. Prior to joining Bates White, he served as a Postdoctoral Scholar, Senior Postdoctoral Scholar, and Staff Scientist at the California Institute of Technology and a Visiting Scholar at Stanford University.

Selected Experience

  • Serving as lead economic advisor to the Korean solar PV development projects in Boulder City, Nevada.

  • Provided consulting services to major Korean IPPs on solar joint venture formations, asset purchases and sales, power marketing, and PPA negotiations.

  • Provided consulting services to CEC in developing the 33% renewable energy goals, market price referent (MPR), and feed-in tariff (FiT) mechanism.

  • Conducted portfolio analysis on behalf of Airtricity, EIB, and CEC on quantifying the benefits and costs of adding renewable generation into a conventional fossil fuel generation portfolio mix.

  • Conducted reliability studies on behalf of Exelon Corporation related to the potential retirement of the Zion, Limerick, Three Mile Island, and Oyster Creek nuclear generation stations. Performed Optimal Power Flow and Security-Constrained Optimal Power Flow studies.

  • Testified on behalf of Calpine and NRG regarding certificates of public convenience and necessity to construct Houston Import Project (HIP).

  • Testified on behalf of Maryland PUC Staff regarding potential market power issues associated with the proposed Exelon–Constellation merger.

  • Testified on behalf of Virginia State Corporation Commission Staff regarding certificates of public convenience and necessity to construct 500-kV transmission line.


PhD, Physics, Columbia University

MPhil, Physics, Columbia University

MA, Physics, Columbia University